Agenda Packet_2025-07-15 - Laserfiche WebLink

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EXHIBIT I EXHIBIT "C" ADDENDUM Self -insured retentions must be declared to and approved by Customer. Customer may require PlanetBids to provide proof of ability to pay losses and related investigations, claim administration, and defense expenses within the retention. Acceptability of Insurers Insurance is to be placed with insurers authorized to conduct business in the state of California with a current A.M. Best rating of no less than A-:VII, unless otherwise acceptable to Customer. Claims Made Policies If any of the required policies provide coverage on a claims -made basis: 1. The retroactive date must be shown and must be before the date of the contract. 2. Insurance must be maintained and evidence of insurance must be provided for at least three (3) years after completion of work. 3. If coverage is canceled or non -renewed, and not replaced with another claims -made policy form with a retroactive date prior to the contract effective date, PlanetBids must purchase "extended reporting" coverage for a minimum of three (3) years after completion of work. Verification of Coverage PlanetBids shall furnish Customer with original Certificates of Insurance including all required amendatory endorsements (or copies of the applicable policy language effecting coverage required by this clause). Failure to obtain the required documents prior to the work beginning shall not waive PlanetBids's obligation to provide them. Subcontractors PlanetBids shall require and verify that all subcontractors maintain insurance meeting all the requirements stated herein. Special Risks or Circumstances Customer reserves the right to modify these requirements, including limits, based on the nature of the risk, prior experience, insurer, coverage, or other special circumstances. Any modifications to the foregoing once the contract is in process/in active term will not effect the current standing of this Agreement. An amendment will be required to effectuate any changes and signed by both parties. Failure to Maintain Insurance Coverage If PlanetBids, for any reason, fails to maintain insurance coverage, which is required pursuant to this Agreement, for the entire term of this contract, the same shall be deemed a material breach of Agreement. Customer, at its sole option, may terminate this Agreement at any time and obtain damages from PlanetBids resulting from said breach. City Council 8 — 13 7/15/2025